diff --git a/charts/incubator/cloudflared/Chart.yaml b/charts/incubator/cloudflared/Chart.yaml
index da2ed3edca9..dac9ca11bce 100644
--- a/charts/incubator/cloudflared/Chart.yaml
+++ b/charts/incubator/cloudflared/Chart.yaml
@@ -1,9 +1,9 @@
 apiVersion: v2
-appVersion: "2023.4.2"
+appVersion: "2023.5.1"
 dependencies:
   - name: common
     repository: https://library-charts.truecharts.org
-    version: 11.1.2
+    version: 12.10.4
 deprecated: false
 description: Client for Cloudflare Tunnel, a daemon that exposes private services through the Cloudflare edge.
 home: https://truecharts.org/charts/incubator/cloudflared
@@ -20,7 +20,7 @@ name: cloudflared
 sources:
   - https://github.com/truecharts/charts/tree/master/charts/incubator/cloudflared
 type: application
-version: 4.0.0
+version: 5.0.0
 annotations:
   truecharts.org/catagories: |
     - network
diff --git a/charts/incubator/cloudflared/ci/test-values.yaml b/charts/incubator/cloudflared/ci/test-values.yaml
index ed94a8b6b90..8ebcee81289 100644
--- a/charts/incubator/cloudflared/ci/test-values.yaml
+++ b/charts/incubator/cloudflared/ci/test-values.yaml
@@ -1,3 +1,3 @@
 # With the bellow we test both container starts and that tpl is working inside extraArgs list
-args: ["tunnel", "--no-autoupdate", "{{ .Values.testTpl }}"]
+args: ["tunnel", "--no-autoupdate", "run", "{{ .Values.testTpl }}"]
 testTpl: "--hello-world"
diff --git a/charts/incubator/cloudflared/questions.yaml b/charts/incubator/cloudflared/questions.yaml
index c2c67e51ffd..cde41102915 100644
--- a/charts/incubator/cloudflared/questions.yaml
+++ b/charts/incubator/cloudflared/questions.yaml
@@ -8,22 +8,24 @@ questions:
 # Include{replicas1}
 # Include{podSpec}
 # Include{containerMain}
+
+                                - variable: cloudflared
+                                  group: App Configuration
+                                  label: Cloudflared Configuration
+                                  schema:
+                                    additional_attrs: true
+                                    type: dict
+                                    attrs:
+                                      - variable: token
+                                        label: Tunnel Token
+                                        description: Token for tunnel (Tunnel managed by Cloudflare not locally)
+                                        schema:
+                                          type: string
+                                          required: true
+                                          default: ""
+
 # Include{containerBasic}
 # Include{containerAdvanced}
-  - variable: cloudflared
-    group: App Configuration
-    label: Cloudflared Configuration
-    schema:
-      additional_attrs: true
-      type: dict
-      attrs:
-        - variable: token
-          label: Tunnel Token
-          description: Token for tunnel (Tunnel managed by Cloudflare not locally)
-          schema:
-            type: string
-            required: true
-            default: ""
 
 # Include{containerConfig}
 # Include{podOptions}
diff --git a/charts/incubator/cloudflared/templates/common.yaml b/charts/incubator/cloudflared/templates/common.yaml
index c1a366e1cf0..b51394e00a4 100644
--- a/charts/incubator/cloudflared/templates/common.yaml
+++ b/charts/incubator/cloudflared/templates/common.yaml
@@ -1 +1 @@
-{{ include "tc.common.loader.all" . }}
+{{ include "tc.v1.common.loader.all" . }}
diff --git a/charts/incubator/cloudflared/values.yaml b/charts/incubator/cloudflared/values.yaml
index 428ba0d1d25..a5434d807d4 100644
--- a/charts/incubator/cloudflared/values.yaml
+++ b/charts/incubator/cloudflared/values.yaml
@@ -1,7 +1,14 @@
 image:
   repository: tccr.io/truecharts/cloudflared
   pullPolicy: IfNotPresent
-  tag: 2023.4.2@sha256:e5551a0d74e34f7c10af85ca1df3eda34ec9dba13bd1bc550324a2e12f862230
+  tag: v2023.5.1@sha256:2136a26cb736c3219c523c3dfdfa53efd5834a82cfefcb2b991b47237c0e149f
+
+securityContext:
+  container:
+    readOnlyRootFilesystem: false
+    runAsNonRoot: false
+    runAsUser: 0
+    runAsGroup: 0
 
 args:
   - tunnel
@@ -13,12 +20,18 @@ args:
 cloudflared:
   token: ""
 
-securityContext:
-  runAsNonRoot: false
-
-podSecurityContext:
-  runAsUser: 0
-  runAsGroup: 0
+workload:
+  main:
+    podSpec:
+      containers:
+        main:
+          probes:
+            liveness:
+              enabled: false
+            readiness:
+              enabled: false
+            startup:
+              enabled: false
 
 service:
   main:
@@ -27,13 +40,6 @@ service:
       main:
         enabled: false
 
-probes:
-  liveness:
-    enabled: false
-  readiness:
-    enabled: false
-  startup:
-    enabled: false
-
 portal:
-  enabled: false
+  open:
+    enabled: false